Proxygen Teams With Merck KGaA to Develop Molecular Glue Degraders
2022年6月3日 - 1:38AM
Dow Jones News
By Dean Seal
The Austrian biotechnology company Proxygen GmbH has entered
into a strategic partnership with Merck KGaA to develop molecular
glue degraders, a class of molecules that degrade disease-causing
proteins that can't be blocked by traditional pharmacology.
Founded in 2020, Proxygen said it was teaming up with the German
science and technology company to identify and develop molecular
glue degraders up to a clinical candidate stage.
Molecular glue degraders could be the key to delivering
innovative therapies for diseases with a high medical need, but
their clinical potential hasn't yet been exploited due to a
scarcity of scalable discovery strategies, Proxygen said.
Under the terms of their multi-year research collaboration and
license agreement, Proxygen is eligible to receive up to $554
million in continuous R&D funding, royalty payments and
payments for hitting upfront and success-based milestones.
"We are incredibly excited to start this long-term collaboration
with Merck, a globally recognized player in the pharmaceutical
industry that shares our drive towards dynamic innovation for the
benefit of patients," Dr. Bernd Boidol, Proxygen's chief executive,
said in a statement. "The partnership validates the unique
potential of Proxygen's glue degrader platform and strategically
leverages our common strengths in the targeted protein degradation
field."
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 02, 2022 12:23 ET (16:23 GMT)
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